Nevada 2019 Regular Session Status: Enacted

SB 161 — Revises provisions relating to certain financial businesses, products and services. (BDR 52-875)

Last action — Approved by the Governor. Chapter 611.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 14, 2019. Enacted.

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Advancing 52% · moderate confidence

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Odds of enactment

High

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  • Enacted

    Current position in the legislative process.

  • 2 sponsors

    2 primary, 0 co-sponsors signed on.

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Summary

AN ACT relating to financial businesses; requiring the Director of the Department of Business and Industry to establish and administer the Regulatory Experimentation Program for Product Innovation; setting forth the requirements for the operation of the Program; providing for a temporary exemption from certain statutory and regulatory requirements related to financial products and services for a participant in the Program under certain circumstances; requiring the Director to submit to the Legislature an annual report on the Program; revising provisions relating to persons who make loans exclusively via the Internet; and providing other matters properly relating thereto.

Bill Text

What changed in the latest version

937 added · 966 removed

937 line(s) added, 966 removed.

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REQUIRES TWO-THIRDS MAJORITY VOTE (§ 12) (Reprinted with amendments adopted on June 3, 2019) THIRD REPRINT S.B.
Senate Bill No.
161 S ENATE BILL N O.
161–Senators Kieckhefer;
161–SENATORS K IECKHEFER ;AND SPEARMAN FEBRUARY 14, 2019 ____________ Referred to Committee on Commerce and Labor SUMMARY—Revises provisions relating to certain financial businesses, products and services.
and Spearman CHAPTER..........
(BDR 52-875) FISCAL NOTE:
Effect on Local Government:
No.
Effect on the State:
Yes.
~ EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
Legislative Counsel’s Digest:
LegiThe existing provisions of chapters 645A, 645B, 645F and 645G of NRS, titles and 56 of NRS and the various regulations adopted pursuant to those statutes impose licensing and other regulatory requirements on the provision of certain financial products and services, ranging from consumer lending to banking and debt counseling.
The existing provisions of chapters 645A, 645B, 645F and 645G of NRS, titles 55 and 56 of NRS and the various regulations adopted pursuant to those statutes impose licensing and other regulatory requirements on the provision of certain debt counseling.
This bill, modeled after similar legislation from Arizona, generally provides for the establishment and administration of a program by the Director of the Department of Business and Industry under which persons offering or providing such a product or service in a technically innovative way may seek a temporary otherwise apply to the product or service.
This bill, modeled after similar legislation from Arizona, generally provides for the establishment and administration of a program by the Director of the Department of Business and Industry under which persons offering or providing such a product or service in a technically innovative way may seek a temporary exemption from some or all of the statutory and regulatory provisions that At the end of the period of exemption, a participant in the program must cease toeq.) provide the product or service or continue operations in accordance with applicable licensing and other requirements.
(Ariz.
Rev.
Stat.
Ann.
§§ 41-5601 et seq.) At the end of the period of exemption, a participant in the program must cease to provide the product or service or continue operations in accordance with applicable licensing and other requirements.
A person who desires to become a participant in the Program is required by section 12 of this bill to - *SB161_R3* – 2 – submit an application to the Director.
A person who desires to become a participant in the Program is required by section 12 of this bill to submit an application to the Director.
If the Director approves the application, section 15 of this bill provides that the product or service of the participant is generally exempt from any provision of chapter 645A, 645B, 645F or 645G of NRS, title 55 or 56 of NRS or any regulation adopted pursuant to any of those statutes, except as the Director may otherwise require.
If the Director approves the application, generally exempt from any provision of chapter 645A, 645B, 645F or 645G ofipant is NRS, title 55 or 56 of NRS or any regulation adopted pursuant to any of those statutes, except as the Director may otherwise require.
provisions of a product or service under the Program.
Sections 16 and 17 of this bill establish requirements and limitations on the provisions of a product or service under the Program.
Section 16 of this bill limits the number of consumers in this State to whom a product or service may be provided by a participant, while section 17 of this bill imposes certain specific requirements and limitations applicable to participants who are transmitters of money.
Section 16 of this bill limits the number of consumers in this State to whom a product or service may be requirements and limitations applicable to participants who are transmitters ofic money.
Sections 22 confidentiality of records relating to the Program.recordkeeping and the Pursuant to sections 25 and 26 of this bill, the period of participation in the Program is generally limited to 2 years, at which time a participant must cease to offer or provide a product or service under the Program.
Sections 22 - 80th Session (2019) – 2 – and 23 of this bill contain provisions relating to recordkeeping and the confidentiality of records relating to the Program.
Pursuant to sections 25 and 26 of this bill, the period of participation in the Program is generally limited to 2 years, at which time a participant must cease to offer or provide a product or service under the Program.
Section 26.3 of this bill authorizes the Director to take certain actions if a participant has engaged in, is engaging in or threatens to engage in any act or omission that the Director determines is inconsistent with the health, safety or Director to act to enjoin or otherwise prevent any violation of the provisionses the governing the Program.
participant has engaged in, is engaging in or threatens to engage in any act orf a omission that the Director determines is inconsistent with the health, safety or welfare of consumers or the public generally.
Section 27 of this bill authorizes the Director to act to enjoin or otherwise prevent any violation of the provisions governing the Program.
Section 31 of this bill requires the Director to report annually to the Legislature on the status of the Program.
Section 31 of this bill requires the Director to and 44-47 of this bill make conforming changes.f the Program.
Sections 35, 37-42, 43 and 44-47 of this bill make conforming changes.
Sections 35, 37-42, Existing law prohibits a person from engaging in the business of lending in this State without having first obtained a license from the Commissioner of Financial Institutions for each office or other place of business in which the person engages in the business of lending.
State without having first obtained a license from the Commissioner of Financialhis Institutions for each office or other place of business in which the person engages in the business of lending.
(NRS 675.090) Section 43.3 of this bill authorizes persons who make loans exclusively via the Internet, who are designated by section 42.5 of this bill as “Internet lenders,” to apply for a license to engage in the business of lending for an office or place of business located outside of this State without having a license for an office or place of business located inside this law which prohibit persons from conducting the business of making loans in thexisting same office or place of business as any other business.
(NRS 675.090) Section 43.3 of this bill authorizes persons who make loans exclusively via the Internet, who are designated the business of lending for an office or place of business located outside of thisge in State without having a license for an office or place of business located inside this State.
(NRS 675.230) - *SB161_R3* – 3 – THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 43.7 of this bill exempts Internet lenders from provisions of existing law which prohibit persons from conducting the business of making loans in the same office or place of business as any other business.
(NRS 675.230) EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
“Applicable regulator” means the Commissioner of Mortgage Lending, the Division of Mortgage Lending of the Department of Business and Industry, the Commissioner of Financial Institutions or the Division of Financial Institutions of the Department of Business and Industry, as applicable, responsible for regulating a financial product or service.
“Applicable regulator” means the Commissioner of Mortgage Lending, the Division of Mortgage Lending of the - 80th Session (2019) – 3 – Department of Business and Industry, the Commissioner of Financial Institutions or the Division of Financial Institutions of the Department of Business and Industry, as applicable, responsible for regulating a financial product or service.
“Director” means the Director of the Department of Business and Industry.
“Director” means the Director of the Department of BusSec.
Sec.
Sec.
or service through the Program.er or provide a financial product Sec.
10.
“Test” means to offer or provide a financial product or service through the Program.
Sec.
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In consultation with each applicable regulator, the Director shall establish and administer the Regulatory - *SB161_R3* – 4 – Experimentation Program for Product Innovation to enable a person to obtain limited access to markets in this State to test a financial product or service without:
In consultation with each applicable regulator, the Director shall establish and administer the Regulatory Experimentation Program for Product Innovation to enable a person to obtain limited access to markets in this State to test a financial product or service without:
Otherwise complying with any provision of chapter 645A, 645B, 645F or 645G of NRS, title 55 or 56 of NRS or any regulation adopted pursuant thereto, except as otherwise required by the Director pursuant to section 15 or 26.3 of this act.
Otherwise complying with any provision of chapter 645A, 645B, 645F or 645G of NRS, title 55 or 56 of NRS or any - 80th Session (2019) – 4 – regulation adopted pursuant thereto, except as otherwise required by the Director pursuant to section 15 or 26.3 of this act.
(a) Be subject to the exercise of personal jurisdiction by the courts of this State;
courts of this State;
and (b) Establish and maintain a physical or virtual location that is reasonably accessible to the Director, from which testing will occur and at which all records, documents and data required by sec3.onsThe application must include:act will be maintained.
andexercise of personal jurisdiction by the (b) Establish and maintain a physical or virtual location that is reasonably accessible to the Director, from which testing will occur and at which all records, documents and data required by sections 2 to 31, inclusive, of this act will be maintained.
(a) A description of the product or service proposed for testing and an(1) The innovation included in the product or service;
3.
The application must include:
(a) A description of the product or service proposed for testing and an explanation of:
(1) The innovation included in the product or service;
(b) A statement of the proposed plan for testing the product or service, including:
service, including:of the proposed plan for testing the product or (1) An estimate of the dates or periods of time anticipated for entry into and exit from the relevant market in this State;
(1) An estimate of the dates or periods of time anticipated for entry into and exit from the relevant market in this State;
- *SB161_R3* – 5 – (c) The full legal name, address, telephone number, electronic mail address and website address of the applicant and, if the applicant is not a natural person, each officer, director or other principal of the applicant;
(c) The full legal name, address, telephone number, electronic mail address and website address of the applicant and, if the applicant is not a natural person, each officer, director or other principal of the applicant;
(d) A description of any criminal conviction and any final administrative suspension, revocation or termination of a professional or occupational license of the applicant and any other person described in paragraph (c) if such a conviction or suspension, revocation or termination occurred in this State or another jurisdiction within the 5 years immediately preceding the date of the application;
(d) A description of any criminal conviction and any final administrative suspension, revocation or termination of a professional or occupational license of the applicant and any - 80th Session (2019) – 5 – other person described in paragraph (c) if such a conviction or suspension, revocation or termination occurred in this State or another jurisdiction within the 5 years immediately preceding the date of the application;
The application must be submitted to the Director and be accompanied by a nonrefundable fee of not more than $1,000.
The application must be submitted to the Director and be Director shall account separately for the money received from fees collected pursuant to this section and use that money solely to pay the expenses of administering the Program.
The Director shall account separately for the money received from fees collected pursuant to this section and use that money solely to pay the expenses of administering the Program.
The Director may refuse to consider any application submitted pursuant to section 12 of this act if the application does not include the information required by section Director.
The Director may refuse to consider any application submitted pursuant to section 12 of this act if the application does not include the information required by section of this act or any other information deemed necessary by the Director.
The applicant shall provide, within the period directed by the Director, any additional information required in connection the application may be denied by the Director as incomplete.vided, 2.
The applicant shall provide, within the period directed by the Director, any additional information required in connection with the application.
If the required information is not provided, the application may be denied by the Director as incomplete.
2.
(a) Any license or other authorization previously issued by the applicable regulator, or the corresponding regulator in another jurisdiction, to the applicant or any other person described in paragraph (c) of subsection 3 of section 12 of this act;
(a) Any license or other authorization previously issued by the jurisdiction, to the applicant or any other person described in paragraph (c) of subsection 3 of section 12 of this act;
and - *SB161_R3* – 6 – (c) The ability of the applicant or any other person described in paragraph (c) of subsection 3 of section 12 of this act to qualify for a license or other authorization from the applicable regulator upon the completion of testing.
and (c) The ability of the applicant or any other person described in paragraph (c) of subsection 3 of section 12 of this act to qualify for a license or other authorization from the applicable regulator upon the completion of testing.
Unless the Director and the applicant mutually agree to extend this period, the Director shall approve or deny an application within 90 days after the completed application is received.
Unless the Director and the applicant mutually agree to extend this period, the Director shall approve or deny an - 80th Session (2019) – 6 – application within 90 days after the completed application is received.
The Director may not approve an application or request if provision of the relevant financial product or service to consumers in this State would exceed the applicable limitation provided by subsection 2 or 3 of section 16 of this act.
The Director may not approve an application or request if provision of the relevant financial product or service to consumers in this State would exceed the applicable limitation provided by subsection 2 or of section 16 of this act.
2.
notice of the approval or denial of the application or requestritten within 5 business days after the date of approval or denial.
The Director shall give the applicant or participant written notice of the approval or denial of the application or request within 5 business days after the date of approval or denial.
the approval.rector shall issue a registration number unique to (c) Except as otherwise required by the Director pursuant to or provided within the scope of the Program is exempt from any offered provision of chapter 645A, 645B, 645F or 645G of NRS, title 55 or 56 of NRS or any regulation adopted pursuant thereto.
(b) The Director shall issue a registration number unique to the approval.
(c) Except as otherwise required by the Director pursuant to subsection 2 or section 26.3 of this act, a product or service offered or provided within the scope of the Program is exempt from any provision of chapter 645A, 645B, 645F or 645G of NRS, title 55 or of NRS or any regulation adopted pursuant thereto.
In addition to any other requirements or limitations of section 16 or 17 of this act that apply to a product or service, the Director may condition approval of an application upon compliance by the participant with one or more provisions of chapter 645A, 645B, 645F or 645G of NRS, title 55 or 56 of NRS or any regulation adopted pursuant thereto.
In addition to any other requirements or limitations of section 16 or 17 of this act that apply to a product or service, the Director may condition approval of an application upon compliance by the participant with one or more provisions of chapter 645A, 645B, 645F or 645G of NRS, title 55 or 56 of NRS or 3.y rA notice of approval of an application given pursuant to section 14 of this act must be accompanied by a copy of the provisions of sections 2 to 31, inclusive, of this act and any applicable regulations of the Director then in effect, and set forth:
3.
A notice of approval of an application given pursuant to section 14 of this act must be accompanied by a copy of the provisions of sections 2 to 31, inclusive, of this act and any applicable regulations of the Director then in effect, and set forth:
(c) The general limitations of section 16 of this act, any additional requirements or limitations applicable specifically to the product or service pursuant to section 17 of this act and any - *SB161_R3* – 7 – conditions imposed pursuant to subsection 2 or section 26.3 of this act;
(c) The general limitations of section 16 of this act, any additional requirements or limitations applicable specifically to the product or service pursuant to section 17 of this act and any conditions imposed pursuant to subsection 2 or section 26.3 of this act;
and (d) Any additional information required by the Director to be disclosed to consumers pursuant to subsection 2 of section 20 of this act.
and - 80th Session (2019) – 7 – (d) Any additional information required by the Director to be disclosed to consumers pursuant to subsection 2 of section 20 of this act.
2.
than 5,000 consumers may be provided a given product or service by a participant during the period of testing.
Except as otherwise provided in subsection 3, not more than 5,000 consumers may be provided a given product or service by a participant during the period of testing.
Except as otherwise provided in subsection 2, in addition to complying with any other applicable requirements and limitations, a participant who is testing a financial product or service within the scope of the Program for which a license is otherwise required pursuant to chapter 671 of NRS shall not rec(a) More than $2,500 in any single transaction for aof testing:
Except as otherwise provided in subsection 2, in addition to complying with any other applicable requirements and limitations, a participant who is testing a financial product or service within the scope of the Program for which a license is otherwise required pursuant to chapter 671 of NRS shall not receive for transmission or transmit during the period of testing:
consumer.
(a) More than $2,500 in any single transaction for a consumer.
consumer.re than $25,000 in any series of transactions for a 2.
(b) More than $25,000 in any series of transactions for a consumer.
2.
(a) More than $15,000 in any single transaction for a consumer.
consumer.re than $15,000 in any single transaction for a (b) More than $50,000 in any series of transactions for a consumer.
(b) More than $50,000 in any series of transactions for a consumer.
(a) Approve a request for relief if the Director determines that the participant has adequate capitalization and satisfactory - *SB161_R3* – 8 – procedures and processes in place for the oversight of its operations and the management of risk.
(a) Approve a request for relief if the Director determines that the participant has adequate capitalization and satisfactory - 80th Session (2019) – 8 – procedures and processes in place for the oversight of its operations and the management of risk.
Before providing any financial product or service to a consumer, a participant shall disclose to the consumer:
Before providing any financial product or service to a consumer, a participant shall disclose to the con(a) The name and contact information of the participant;
(a) The name and contact information of the participant;
(e) The fact that the participant has been approved to provide the product or service pursuant to sections 2 to 31, inclusive, of recommended by the Director or any governmental agency;ed or (f) The fact that the product or service is provided as part of a the date on which the test is expected to end;
(e) The fact that the participant has been approved to provide the product or service pursuant to sections 2 to 31, inclusive, of this act, but that the product or service is not endorsed or recommended by the Director or any governmental agency;
andof the test, with (g) The fact that the consumer may submit a complaint to the Director relating to the product or service, with the telephone number and Internet address of the Internet website maintained by the Director pursuant to section 21 of this act.
(f) The fact that the product or service is provided as part of a test and may be discontinued at or before the end of the test, with the date on which the test is expected to end;
and (g) The fact that the consumer may submit a complaint to the number and Internet address of the Internet website maintainede by the Director pursuant to section 21 of this act.
If a product or service is provided through an Internet website or mobile application, the consumer must acknowledge receipt of the disclosures before the completion of any transaction.
If a product or service is provided through an Internet website or mobile application, the consumer - 80th Session (2019) – 9 – must acknowledge receipt of the disclosures before the completion of any transaction.
- *SB161_R3* – 9 – Sec.
Sec.
On request by the Director, a participant shall make any requested record, information or data available for inspection and copying by the Director.
On request by the Director, a participant shall make any copying by the Director.ation or data available for inspection and 3.
3.
In addition to providing any other disclosure or notice of the unauthorized acquisition of computerized data required by any applicable statute or regulation, a participant shall promptly notify constituting a breach of the security of the system data as thata term is defined in NRS 603A.020.
In addition to providing any other disclosure or notice of the unauthorized acquisition of computerized data required by any applicable statute or regulation, a participant shall promptly notify the Director of any unauthorized acquisition of computerized data constituting a breach of the security of the system data as that term is defined in NRS 603A.020.
to or obtained by the Director or an applicable regulator pursuant to sections 2 to 31, inclusive, of this act:
Sec.
(a) Except as otherwise provided in this section, is confidential and not a public book or record within the meaning of NRS 239.010.
23.
1.
Any record or information in a record submitted to sections 2 to 31, inclusive, of this act:ble regulator pursuant (a) Except as otherwise provided in this section, is confidential and not a public book or record within the meaning of NRS 239.010.
Any disclosure pursuant to subsection 1 of a complaint relating to a financial product or service or the results of an examination, inquiry or investigation relating to a participant or product or service does not make the relevant record or information in a record a public record within the meaning of NRS 239.010, and a participant shall not disclose any such record or information to the general public except in connection with any disclosure required by law.
Any disclosure pursuant to subsection 1 of a complaint relating to a financial product or service or the results of an examination, inquiry or investigation relating to a participant or product or service does not make the relevant record or - 80th Session (2019) – 10 – information in a record a public record within the meaning of NRS 239.010, and a participant shall not disclose any such record or information to the general public except in connection with any disclosure required by law.
A participant shall not disclose, use or - *SB161_R3* – 10 – refer to any comments, conclusions or results of an examination, inquiry or investigation in any communication to a consumer or potential consumer.
A participant shall not disclose, use or refer to any comments, conclusions or results of an examination, inquiry or investigation in any communication to a consumer or potential consumer.
The Director and any applicable regulator are immune from civil liability for any damages sustained because of a disclosure of any record or information in a record that is received or obtained pursuant to sections 2 to 31, inclusive, of this act.
The Director and any applicable regulator are immune from civil liability for any damages sustained because of a or obtained pursuant to sections 2 to 31, inclusive, of this act.ved 4.
4.
ends 2 years after the date of the notice given pursuant to section 14 of this act.
1.
participant shall, within 60 days after the end of the period of testing, wind down the test and cease offering or providing the product or service.
The period of testing for a financial product or service ends 2 years after the date of the notice given pursuant to section 2.
thExcept as otherwise provided in this subsection, the participant shall, within 60 days after the end of the period of testing, wind down the test and cease offering or providing the product or service.
A participant who desires such an extension must submit a written request to the Director not less than 30 days before the end of the period of testing.
A participant who desires such an - 80th Session (2019) – 11 – extension must submit a written request to the Director not less than 30 days before the end of the period of testing.
- *SB161_R3* – 11 – 3.
3.
Any such extension must not exceed 1 year in duration.
Any such extension must not exceed 1 yea4.in A participant who obtains an extension shall report periodically to the Director, in writing, on the status of the efforts of the participant to obtain a license or other authorization.
4.
A participant who obtains an extension shall report periodically to the Director, in writing, on the status of the efforts of the participant to obtain a license or other authorization.
(c) Remove the participant from the Program or order the participant to exit the Program;
(c) Remove the participant from the Program or order the par(d) Take any combination of those actions.
or 2.) TAny action taken by the Director pursuant to this section is final and not subject to judicial or administrative review.
2.
that a participant has engaged in, is engaging in or threatens to engage in any act or omission in violation of any provision of sections 2 to 31, inclusive, of this act or any other applicable statute or regulation for which a civil or criminal penalty is prescribed, the Director may:
Any action taken by the Director pursuant to this section is final and not subject to judicial or administrative review.
Sec.
27.
1.
If the Director has reasonable cause to believe that a participant has engaged in, is engaging in or threatens to engage in any act or omission in violation of any provision of sections 2 to 31, inclusive, of this act or any other applicable statute or regulation for which a civil or criminal penalty is prescribed, the Director may:
or (c) Take any combination of those actions.
or - 80th Session (2019) – 12 – (c) Take any combination of those actions.
- *SB161_R3* – 12 – 2.
2.
The Director may enter into an agreement with any governmental agency or official of any other jurisdiction to authorize:
The Director may enter into an agreement with any authorize:al agency or official of any other jurisdiction to (a) A participant to operate in such a jurisdiction;
(a) A participant to operate in such a jurisdiction;
On or before March 1 of each year, the Director of the Department of Business and Industry shall prepare and submit to the Director of the Legislative Counsel Bureau, for transmittal to the Legislature, a report on the operation and status of 2.e The report must include, for the immediately preceding calendar year:
On or before March 1 of each year, the Director of the Department of Business and Industry shall prepare and transmittal to the Legislature, a report on the operation and status of the Program.
Program, and the number of applications that were approved or the denied;
2.
The report must include, for the immediately preceding calendar year:
(a) The number of applications submitted to participate in the Program, and the number of applications that were approved or denied;
(2) A statement of the number of participants providing each product or service;
- 80th Session (2019) – 13 – (2) A statement of the number of participants providing each product or service;
Sec.
Secs.
32.
32-34.
(Deleted by amendment.) Sec.
(Deleted by amendment.) 239.010 1.RS 2Except as otherwise provided in this section and NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.071, 49.095, 49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030, 62H.170, 62H.220, 62H.320, 75A.100, 75A.150, 76.160, 78.152, 80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.5413, 87A.200, 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345, 88A.7345, 89.045, 89.251, 90.730, 91.160, 116.757, 116A.270, 116B.880, 118B.026, 119.260, 119.265, 119.267, 119.280, 119A.280, 119A.653, 119B.370, 119B.382, 120A.690, 125.130, 125B.140, 126.141, 126.161, 126.163, 126.730, 127.007, 127.057, 127.130, 127.140, 127.2817, 128.090, 130.312, 130.712, 136.050, 159.044, 159A.044, 172.075, 172.245, 176.01249, 176.015, 176.0625, 176.09129, 176.156, 176A.630, 178.39801, 178.4715, 178.5691, 179.495, 179A.070, 179A.165, 179D.160, 200.3771, 200.3772, 200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3925, 209.419, 209.521, 211A.140, 213.010, 213.040, 213.095, 213.131, 217.105, 217.110, 217.464, 217.475, 218A.350, 218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 228.270, 228.450, 228.495, 228.570, 231.069, 231.1473, 233.190, 237.300, 239.0105, 239C.230, 239C.250, 239C.270, 240.007, 241.020, 241.030,10, 241.039, 242.105, 244.264, 244.335, 247.540, 247.550, 247.560, 250.087, 250.130, 250.140, 250.150, 268.095, 268.490, 268.910, 271A.105, 281.195, 281.805, 281A.350, 281A.680, 281A.685, 281A.750, 281A.755, 281A.780, 284.4068, 286.110, 287.0438, 289.025, 289.080, 289.387, 289.830, 293.4855, 293.5002, 293.503, 293.504, 293.558, 293.906, 293.908, 293.910, 293B.135, 293D.510, 331.110, 332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, 338.1593, 338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205, 353A.049, 353A.085, 353A.100, 353C.240, 360.240, 360.247, 360.255, 360.755, 361.044, 361.610, 365.138, 366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300, 379.008, 379.1495, 385A.830, 385B.100, 387.626, 387.631, 388.1455, 388.259, - 80th Session (2019) – 14 – 388.501, 388.503, 388.513, 388.750, 388A.247, 388A.249, 391.035, 391.120, 391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 392.317, 392.325, 392.327, 392.335, 392.850, 394.167, 394.1698, 394.447, 394.460, 394.465, 396.3295, 396.405, 396.525, 396.535, 396.9685, 398A.115, 408.3885, 408.3886, 408.3888, 408.5484, 412.153, 416.070, 422.2749, 422.305, 422A.342, 422A.350, 425.400, 427A.1236, 427A.872, 432.028, 432.205, 432B.175, 432B.280, 432B.290, 432B.407, 432B.430, 432B.560, 432B.5902, 433.534, 433A.360, 437.145, 439.840, 439B.420, 440.170, 445A.665, 445B.570, 449.209, 449.245, 449A.112, 450.140, 453.164, 453.720, 453A.610, 453A.700, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056, 459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407, 463.790, 467.1005, 480.365, 480.940, 481.063, 481.091, 481.093, 482.170, 482.5536, 483.340, 483.363, 483.575, 483.659, 483.800, 484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285, 571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110, 599B.090, 603.070, 603A.210, 604A.710, 612.265, 616B.012, 616B.015, 616B.315, 616B.350, 618.341, 618.425, 622.310, 623.131, 623A.137, 624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230, 628B.760, 629.047, 629.069, 630.133, 630.30665, 630.336, 630A.555, 631.368, 632.121, 632.125, 632.405, 633.283, 633.301, 633.524, 634.055, 634.214, 634A.185, 635.158, 636.107, 637.085, 637B.288, 638.087, 638.089, 639.2485, 639.570, 640.075, 640A.220, 640B.730, 640C.400, 640C.600, 640C.620, 640C.745, 640C.760, 640D.190, 640E.340, 641.090, 641.325, 641A.191, 641A.289, 641B.170, 641B.460, 641C.760, 641C.800, 642.524, 643.189, 644A.870, 645.180, 645.625, 645A.050, 645A.082, 645B.060, 645B.092, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947, 648.033,, 648.197, 649.065, 649.067, 652.228, 654.110, 656.105, 661.115, 665.130, 665.133, 669.275, 669.285, 669A.310, 671.170, 673.450, 673.480, 675.380, 676A.340, 676A.370, 677.243, 679B.122, 679B.152, 679B.159, 679B.190, 679B.285, 679B.690, 680A.270, 681A.440, 681B.260, 681B.410, 681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306, 687A.110, 687A.115, 687C.010, 688C.230, 688C.480, 688C.490, 689A.696, 692A.117, 692C.190, 692C.3507, 692C.3536, 692C.3538, 692C.354, 692C.420, 693A.480, 693A.615, 696B.550, 696C.120, 703.196, 704B.320, 704B.325, 706.1725, 706A.230, 710.159, 711.600, and section 23 of this act, sections 35, 38 and 41 of chapter 478, Statutes of Nevada 2011 and section 2 of chapter 391, Statutes of Nevada 2013 - 80th Session (2019) – 15 – and unless otherwise declared by law to be confidential, all public books and public records of a governmental entity must be open at all times during office hours to inspection by any person, and may be fully copied or an abstract or memorandum may be prepared from those public books and public records.
33.
(Deleted by amendment.) Sec.
34.
(Deleted by amendment.) - *SB161_R3* – 13 – Sec.
35.
NRS 239.010 is hereby amended to read as follows:
239.010 1.
Except as otherwise provided in this section and NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.071, 49.095, 49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030, 62H.170, 62H.220, 62H.320, 75A.100, 75A.150, 76.160, 78.152, 80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.5413, 87A.200, 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345, 88A.7345, 89.045, 89.251, 90.730, 91.160, 116.757, 116A.270, 116B.880, 118B.026, 119.260, 119.265, 119.267, 119.280, 119A.280, 119A.653, 119B.370, 119B.382, 120A.690, 125.130, 125B.140, 126.141, 126.161, 126.163, 126.730, 127.007, 127.057, 127.130, 127.140, 127.2817, 128.090, 130.312, 130.712, 136.050, 159.044, 159A.044, 172.075, 172.245, 176.01249, 176.015, 176.0625, 176.09129, 176.156, 176A.630, 178.39801, 178.4715, 178.5691, 179.495, 179A.070, 179A.165, 179D.160, 200.3771, 200.3772, 200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3925, 209.419, 209.521, 211A.140, 213.010, 213.040, 213.095, 213.131, 217.105, 217.110, 217.464, 217.475, 218A.350, 218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 228.270, 228.450, 228.495, 228.570, 231.069, 231.1473, 233.190, 237.300, 239.0105, 239.0113, 239B.030, 239B.040, 239B.050, 239C.140, 239C.210, 239C.230, 239C.250, 239C.270, 240.007, 241.020, 241.030, 241.039, 242.105, 244.264, 244.335, 247.540, 247.550, 247.560, 271A.105, 281.195, 281.805, 281A.350, 281A.680, 281A.685,.910, 281A.750, 281A.755, 281A.780, 284.4068, 286.110, 287.0438, 293.504, 293.558, 293.906, 293.908, 293.910, 293B.135, 293D.510, 331.110, 332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, 338.1593, 338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205, 353A.049, 353A.085, 353A.100, 353C.240, 360.240, 360.247, 360.255, 360.755, 361.044, 361.610, 365.138, 366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300, 379.008, 379.1495, 385A.830, 385B.100, 387.626, 387.631, 388.1455, 388.259, 388.501, 388.503, 388.513, 388.750, 388A.247, 388A.249, 391.035, 391.120, 391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 392.317, 392.325, 392.327, 392.335, 392.850, 394.167, 394.1698, 394.447, 394.460, 394.465, 396.3295, 396.405, 396.525, 396.535, 396.9685, 398A.115, 408.3885, 408.3886, 408.3888, 408.5484, 412.153, 416.070, 422.2749, 422.305, 422A.342, 422A.350, 425.400, 427A.1236, 427A.872, 432.028, 432.205, 432B.175, 432B.280, 432B.290, 432B.407, 432B.430, 432B.560, 432B.5902, 433.534, 433A.360, 437.145, 439.840, 439B.420, 440.170, 441A.195, 441A.220, 441A.230, 442.330, 442.395, 442.735, 445A.665, 445B.570, 449.209, 449.245, 449A.112, 450.140, - *SB161_R3* – 14 – 453.164, 453.720, 453A.610, 453A.700, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056, 459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407, 463.790, 467.1005, 480.365, 480.940, 481.063, 481.091, 481.093, 482.170, 482.5536, 483.340, 483.363, 483.575, 483.659, 483.800, 484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285, 571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110, 599B.090, 603.070, 603A.210, 604A.710, 612.265, 616B.012, 616B.015, 616B.315, 616B.350, 618.341, 618.425, 622.310, 623.131, 623A.137, 624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230, 628B.760, 629.047, 629.069, 630.133, 630.30665, 630.336, 630A.555, 631.368, 632.121, 632.125, 632.405, 633.283, 633.301, 633.524, 634.055, 634.214, 634A.185, 635.158, 636.107, 637.085, 637B.288, 638.087, 638.089, 639.2485, 639.570, 640.075, 640A.220, 640B.730, 640C.400, 640C.600, 640C.620, 640C.745, 640C.760, 640D.190, 640E.340, 641.090, 641.325, 641A.191, 641A.289, 641B.170, 641B.460, 641C.760, 641C.800, 642.524, 643.189, 644A.870, 645.180, 645.625, 645A.050, 645A.082, 645B.060, 645B.092, 645C.220, 645C.225, 645D.130, 645D.135, 645E.300, 645E.375, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947, 648.033, 648.197, 649.065, 649.067, 652.228, 654.110, 656.105, 661.115, 665.130, 665.133, 669.275, 669.285, 669A.310, 671.170, 673.450, 673.480, 675.380, 676A.340, 676A.370, 677.243, 679B.122, 681A.440, 681B.260, 681B.410, 681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306, 687A.110, 687A.115, 687C.010, 692C.3507,688C692C.3536,.490692C.3538,, 6692C.354,692C692C.420, 693A.480, 693A.615, 696B.550, 696C.120, 703.196, 704B.320, 704B.325, 706.1725, 706A.230, 710.159, 711.600, and section 23 of this act, sections 35, 38 and 41 of chapter 478, Statutes of Nevada 2011 and section 2 of chapter 391, Statutes of Nevada 2013 and unless otherwise declared by law to be confidential, all public books and public records of a governmental entity must be open at all times during office hours to inspection by any person, and may be fully copied or an abstract or memorandum may be prepared from those public books and public records.
This section does not supersede or in any manner affect the federal laws governing copyrights or enlarge, diminish or affect in any other manner the rights of a person in any written book or record which is copyrighted pursuant to federal law.
This section does not supersede or in any manner affect in any other manner the rights of a person in any written book or record which is copyrighted pursuant to federal law.
- *SB161_R3* – 15 – 2.
2.
(a) Shall not refuse to provide a copy of that public record in a readily available medium because the officer, employee or agent has already prepared or would prefer to provide the copy in a different medium.
(a) Shall not refuse to provide a copy of that public record in a readily available medium because the officer, employee or agent has already prepared or would prefer to provide the copy in a different med(b) Except as otherwise provided in NRS 239.030, shall, upon request, prepare the copy of the public record and shall not require the person who has requested the copy to prepare the copy himself or herself.
(b) Except as otherwise provided in NRS 239.030, shall, upon request, prepare the copy of the public record and shall not require the person who has requested the copy to prepare the copy himself or herself.
36.
36, 36.1, 36.15, 36.2, 36.25, 36.3, 36.35, 36.4, 36.45, 36.5, 36.55, 36.6, 36.65, 36.7, 36.75, 36.8 and 36.85.
36.15.
((Deleted by amendment.) Sec.
36.2.
(Deleted by amendment.) Sec.
36.3..
(Deleted by amendment.)) Sec.
36.35.
(Deleted by amendment.) Sec.
36.4.
(Deleted by amendment.) Sec.
36.45.
(Deleted by amendment.) Sec.
36.5.
(Deleted by amendment.) Sec.
36.55.
(Deleted by amendment.) Sec.
36.6.
(Deleted by amendment.) Sec.
36.65.
(Deleted by amendment.) Sec.
36.7.
(Deleted by amendment.) Sec.
36.75.
(Deleted by amendment.) Sec.
36.8.
(Deleted by amendment.) Sec.
36.85.
(Deleted by amendment.) Sec.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or 26.3 of this act, the provisions of this chapter do not apply to a participant in the Regulatory Experimentation Program for Product Innovation - *SB161_R3* – 16 – established and administered pursuant to sections 2 to 31, inclusive, of this act.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or 26.3 of this act, the provisions of this chapter do not apply to a participant in the Regulatory Experimentation Program for Product Innovation - 80th Session (2019) – 16 – established and administered pursuant to sections 2 to 31, inclusive, of this act.
645B.015 Except as otherwise provided in NRS 645B.016, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, 12 U.S.C.
645B.015 Except as otherwise provided in NRS 645B.016, the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, U.S.C.
Any person doing business under the laws of this State, any other state or the United States relating to banks, savings banks, trust companies, savings and loan associations, industrial loan companies, credit unions, thrift companies or insurance companies, including, without limitation, a subsidiary or a holding company of such a bank, company, association or union.
Any person doing business under the laws of this State, any trust companies, savings and loan associations, industrial loanks, companies, credit unions, thrift companies or insurance companies, including, without limitation, a subsidiary or a holding company of such a bank, company, association or union.
his or her duties as a real estate broker.vices in the performance of 6.
5.
A real estate broker rendering services in the performance of his or her duties as a real estate broker.
6.
money for investment in commercial loans secured by a lien on real property, on his or her own account, unless such a person makes a loan secured by a lien on real property using his or her own money and assigns all or a part of his or her interest in the loan to another person, other than his or her spouse or child, within 3 years after the date on which the loan is made or the deed of trust is recorded, whichever occurs later.
7.
Any one natural person, or married couple, who provides money for investment in commercial loans secured by a lien on real property, on his or her own account, unless such a person makes a and assigns all or a part of his or her interest in the loan to another person, other than his or her spouse or child, within 3 years after the date on which the loan is made or the deed of trust is recorded, whichever occurs later.
(2) The residential mortgage loan is financed by the seller;
- 80th Session (2019) – 17 – (2) The residential mortgage loan is financed by the seller;
and - *SB161_R3* – 17 – (3) The seller has not engaged in more than five such loans in this State during the immediately preceding 12 consecutive months.
and (3) The seller has not engaged in more than five such loans in this State during the immediately preceding 12 consecutive months.
A seller of real property who offers credit secured by a mortgage of the property sold.
A seller of real property who offers credit secured by a mor11.
11.
A housing counseling agency approved by the United Sta13.
A housing counseling agency approved by the United States Department of Housing and Urban Development.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or Program for Product Innovation established and administeredtation pursuant to sections 2 to 31, inclusive, of this act.
13.
Sec.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or 26.3 of this act, a participant in the Regulatory Experimentation pursuant to sections 2 to 31, inclusive, of this act.stered Sec.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or 26.3 of this act, the provisions of this chapter do not apply to a participant in the Regulatory Experimentation Program for Product Innovation established and administered pursuant to sections 2 to 31, inclusive, of this act.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or 26.3 of this act, - 80th Session (2019) – 18 – the provisions of this chapter do not apply to a participant in the Regulatory Experimentation Program for Product Innovation established and administered pursuant to sections 2 to 31, inclusive, of this act.
- *SB161_R3* – 18 – Sec.
Sec.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or 26.3 of this act, the provisions of this title do not apply to a participant in the Regulatory Experimentation Program for Product Innovation established and administered pursuant to sections 2 to 31, inclusive, of this act.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or 26.3 of this act, the provisions of this title do not apply to a participant in the established and administered pursuant to sections 2 to 31, inclusive, of this act.
“Amount of loan obligation” means the amount of cash authority of this chapter.
“Amount of loan obligation” means the amount of cash advance plus the aggregate of charges added thereto pursuant to authority of this chapter.
of charges added thereto pursuant to 3.
Institutions.issioner” means the Commissioner of Financial 4.
“Commissioner” means the Commissioner of Financial Ins4.tu“Community” means a contiguous area of the same economic unit or metropolitan area as determined by the Commissioner, and may include all or part of a city or several towns or cities.
“Community” means a contiguous area of the same economic unit or metropolitan area as determined by the Commissioner, and may include all or part of a city or several towns or cities.
Sec.
- 80th Session (2019) – 19 – Sec.
Except as otherwise provided in NRS 675.035, a person doing business under the authority of any law of this State or of the United States relating to banks, national banking associations, savings banks, trust companies, savings and loan associations, credit - *SB161_R3* – 19 – unions, mortgage companies, thrift companies, pawnbrokers or insurance companies.
Except as otherwise provided in NRS 675.035, a person doing business under the authority of any law of this State or of the United States relating to banks, national banking associations, savings banks, trust companies, savings and loan associations, credit unions, mortgage companies, thrift companies, pawnbrokers or insurance companies.
3.
1002(3), if the loan is made directly from money in the plan by the plan’s trustee.
An employee benefit plan, as defined in 29 U.S.C.
§ 1002(3), if the loan is made directly from money in the plan by the plan’s trustee.
of NRS with regard to those services regulated pursuant to chapter 604A of NRS.
10.
A person licensed to do business pursuant to chapter 604A of NRS with regard to those services regulated pursuant to chapter 604A of NRS.
Sec.
- 80th Session (2019) – 20 – Sec.
(b) Contain such further relevant information as the Commissioner may require, including the names and addresses of - *SB161_R3* – 20 – the partners, officers, directors or trustees, and of such of the principal owners or members as will provide the basis for the investigations and findings contemplated by NRS 675.110 and 675.120.
(b) Contain such further relevant information as the Commissioner may require, including the names and addresses of the partners, officers, directors or trustees, and of such of the investigations and findings contemplated by NRS 675.110 andhe 675.120.
or (b) Pay the reasonable expenses for travel, meals and lodging of the Commissioner or a representative of the Commissioner incurred during any investigation or examination made at the office or place of business located outside this State.
or (b) Pay the reasonable expenses for travel, meals and lodging of the Commissioner or a representative of the Commissioner incurred of business located outside this State.
(b) in complying with the provisions of this subsection.
made at the office or place The person must be allowed to choose between paragraph (a) or (b) in complying with the provisions of this subsection.
(a) or [4.] 5.
[4.] 5.
The Commissioner shall consider an application to be fees required to complete the application within 6 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners.
The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 6 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners.
Sec.
- 80th Session (2019) – 21 – Sec.
- *SB161_R3* – 21 – 2.
2.
A licensee may conduct the business of making loans pursuant to this chapter in the same office or place of business as a mortgage company if:
A licensee may conduct the business of making loans mortgage company if:pter in the same office or place of business as a (a) The licensee and the mortgage company:
(a) The licensee and the mortgage company:
This chapter does not apply to a provider to the extent that the provider:
This chapter does not apply to a provider to the extent that the(a) Provides or agrees to provide debt-management, educational or counseling services to an individual who the provider has no reason to know resides in this State at the time the provider agrees to provide the services;
(a) Provides or agrees to provide debt-management, educational reason to know resides in this State at the time the provider agrees to provide the services;
or (b) Receives no compensation for debt-management services from or on behalf of the individuals to whom it provides the services or from their creditors.
or from or on behalf of the individuals to whom it provides the services or from their creditors.
(b) A bank;
- 80th Session (2019) – 22 – (b) A bank;
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or 26.3 of this act, this chapter does not apply to a participant in the - *SB161_R3* – 22 – Regulatory Experimentation Program for Product Innovation established and administered pursuant to sections 2 to 31, inclusive, of this act.
Except as otherwise required by the Director of the Department of Business and Industry pursuant to section 15 or Regulatory Experimentation Program for Product Innovationipant in the established and administered pursuant to sections 2 to 31, inclusive, of this act.
Sec.
act:ec.
Notwithstanding the provisions of section 14 of this act:
Notwithstanding the provisions of section 14 of this 1.
1.
The Director of the Department of Business and Industry shall not approve more than three applications to participate in the Regulatory Experimentation Program for Product Innovation established and administered pursuant to sections 2 to 31, inclusive, of this act, submitted pursuant to section 12 of this act during each of the following periods:
The Director of the Department of Business and Industry shall not approve more than three applications to participate in the established and administered pursuant to sections 2 to 31, inclusive, of this act, submitted pursuant to section 12 of this act during each of (a) The period beginning on January 1, 2020, and ending on June 30, 2020;
(a) The period beginning on January 1, 2020, and ending on June 30, 2020;
The Director of the Department of Business and Industry shall not approve more than five applications to participate in the Regulatory Experimentation Program for Product Innovation established and administered pursuant to sections 2 to 31, inclusive, of this act, submitted pursuant to section 12 of this act during each of the following periods:
The Director of the Department of Business and Industry shall not approve more than five applications to participate in the - 80th Session (2019) – 23 – Regulatory Experimentation Program for Product Innovation established and administered pursuant to sections 2 to 31, inclusive, of this act, submitted pursuant to section 12 of this act during each of the following periods:
- *SB161_R3* – 23 – Sec.
Sec.
Upon passage and approval for the purpose of adopting any regulations and performing any other preparatory administrative tasks necessary to carry out the provisions of this act;
Upon passage and approval for the purpose of adopting any regulations and performing any other preparatory administrative tas2.
and 2.
neOn January 1, 2020, for all other purposes.
On January 1, 2020, for all other purposes.
act;
H - *SB161_R3*
and ~~~~~ 19 - 80th Session (2019)
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Amendments

5 amendments

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Action History

  1. Approved by the Governor. Chapter 611.

  2. Enrolled and delivered to Governor.

  3. Taken from Chief Clerk's desk. Placed on General File. Read third time. Amended. (Amend. No. 1130.) Dispensed with reprinting. Read third time. Passed, as amended. Title approved, as amended. (Yeas: 40, Nays: 1, Vacant: 1.) To printer. From printer. To reengrossment. Reengrossed. Third reprint. To Senate. In Senate. Assembly Amendment Nos. 755, 801 and 1130 concurred in. To enrollment.

  4. Waiver granted effective: June 2, 2019.

  5. (Pursuant to Joint Standing Rule No. 14.3.4, no further action allowed.)

  6. From printer. To reengrossment. Reengrossed. Second reprint. Taken from General File. Placed on Chief Clerk's desk.

  7. From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. Nos. 755 and 801.) To printer.

  8. In Assembly. Read first time. Referred to Committee on Commerce and Labor. To committee.

  9. From printer. To engrossment. Engrossed. First reprint. Read third time. Passed, as amended. Title approved, as amended. (Yeas: 21, Nays: None.) To Assembly.

  10. From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. No. 204.) To printer.

  11. Notice of eligibility for exemption.

  12. From printer. To committee.

  13. Read first time. Referred to Committee on Commerce and Labor. To printer.

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 65 not signed on

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (65)

65 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance technology
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 161 do?
AN ACT relating to financial businesses; requiring the Director of the Department of Business and Industry to establish and administer the Regulatory Experimentation Program for Product Innovation; setting forth the requirements for the operation of the Program; providing for a temporary exemption from certain statutory and regulatory requirements related to financial products and services for a participant in the Program under certain circumstances; requiring the Director to submit to the Legislature an annual report on the Program; revising provisions relating to persons who make loans exclusively via the Internet; and providing other matters properly relating thereto.
Who sponsors SB 161?
SB 161 is sponsored by Pat Spearman and Ben Kieckhefer.
What is the current status of SB 161?
This bill has been enacted into law. Introduced February 14, 2019. Enacted.
Where can I track SB 161?
Track SB 161 free on One Click Politics — get push/email alerts when it moves.

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